If Chad is being recast, then it's clear that the writers have long-term story plans in place for him. What they've been waiting for, I have no idea. Chad's been lounging around Salem for a year now. At this point in his character's story arc he should have been pulled back into the DiMera web, and exploring that side of his character. But it seems like they got sidetracked (or he was a casualty of the writing change last year, not to mention Molly's exit), and he's been drifting ever since.

As for Casey, he's a good actor. I think he's come a long way from when he first started (not to say he was bad then), and I wish we could've seen him act out some meaty storyline now that he's matured. But the writing has been on the wall. First Revolution, then Glee. In interviews he's been forthright about not having much to do, other than interuppting the Nabi wedding. And as a follower of his on Twitter, I have to say that he seems to be a bit wilder(?) than he used to be, and doesn't really fit into the soap actor mold. But I don't know the guy personally, and there's only so much one can glean from a twitter feed, so I could be way off base.

Bottom line, if it happens, I think it'd be a wise decision for both parties. Casey's a fine actor, but the character can easily be recast. But I just hope the recast isn't left story-less like Casey was.